CITY VIEWS: WHAT DO YOU THINK THE OUTLOOK IS FOR THE CITY JOBS MARKET? January 20, 2010 STEVE WOODS | TELEREAL TRILLIUM “It depends on what sector you’re in. I’m in IT but being made redundant next week, and for me personally there’s not much out there at the moment. It’s definitely a hirer’s market, and a crowded one at that.” BENNY ZACHARIAH | WEST LB “There are definitely head hunters in [...]
Soco raises £102m to fund drilling in Congo and Vietnam January 20, 2010 OIL explorer Soco International raised £102m in a share sale yesterday, to allow it to repay holders of a convertible bond due in May, while advancing a busy drilling programme. The shares were placed at a two per cent discount to the market price at 1,410p and, according to those close to the placing, they [...]
PayPal boosts profit at eBay January 20, 2010 EBAY outperformed expectations in its final quarter, with net profits soaring to $1.4bn, or $1.02 a share. More than $20bn (£12.3bn) was processed in the quarter – the first time the mark has been surpassed. The auction site smashed the previous year profits of $367m, or 29 cents per share. On an adjusted basis, profit [...]
JESSOPS IN JEOPARDY January 20, 2010 CAMERA retailer Jessops had its shares suspended yesterday, as shareholders prepared to vote on winding up the firm today as part of a restructuring. Jessops’ 213 shops, which were sold to private firm Snap Equity in September, will continue to trade, but its old parent, Jessops plc, is now set to be wound up. If [...]
NEWS | IN BRIEF January 20, 2010 Thai property scrap escalates A fight to control Thailand property assets co-owned by Lehman Brothers has spiralled, with HSBC and Aberdeen Asset Management joining the fray. Thai police have issued warrants against the pair in relation to their roles administering collateral or assets on behalf of Lehman. The move will further hamper the complex task [...]
Comet festive sales are a worry for owner Kesa January 20, 2010 COMET dragged down sales at parent company Kesa as the electrical store failed to beat off its rivals over Christmas. Like-for-like sales dropped by 3.9 per cent at Comet between 1 November and 8 January, the company revealed yesterday. However, Kesa’s overall sales fall was limited to 0.3 per cent after growth in its international [...]
William Hill buoyed by earnings upgrade thanks to revenue surge January 20, 2010 High Street bookmaker William Hill looked attractive to punters yesterday, as shares closed up more than three per cent following a bullish trading statement. Earnings for the year are expected to be at the top end of predictions, with gross earnings of around £250m due to a four per cent increase in revenue. The company [...]
Dark clouds clearing at Bank of America January 20, 2010 BANK of America said fourth quarter losses narrowed to $194m (£120m) yesterday as haemorrhages from its consumer credit portfolios slowed. A one-off hit for exiting the US government’s Tarp scheme brought the net fourth quarter loss to $5.2bn, however, or 60 cents per share. The impact of the $4bn charge produced a net full-year deficit [...]
State Street sees profit jump after slashing portfolio risk January 20, 2010 STATE Street looked like one of the winners of the US bank reporting season yesterday after its profits almost doubled over the fourth quarter of the year. State Street, one of the world’s biggest institutional investors, saw net income rise to $498m (£305.6m), or $1 per share, over the quarter, from $256m a year ago. [...]
Northern Trust: Shares up despite profits diving January 20, 2010 NORTHERN Trust yesterday reported a 41 per cent decline in fourth-quarter profit as low interest rates pummeled the bank’s net interest income, but the results were better than analysts had expected. Shares of the Chicago-based bank, which offers private banking, investment management and custody services, closed 5.7 per cent up at $55.44. Net income fell [...]
